OPEC and allies are key to global economic recovery

The President of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros, assured this Monday that one of the central columns of the world’s economic and financial recovery is OPEC (Organization of Petroleum Exporting Countries) and its allies (OPEC +) before the collapse of crude oil prices as a result of the Covid-19 pandemic.

The national president advocated the need for the Russian Federation and OPEC + allied countries to integrate and establish agreements that lead to stabilizing oil prices.

“The post pandemic economic and financial recovery will depend on the OPEC + agreement that will give stability and fair prices to the market and will allow the planning of the real economy stock markets and the post pandemic recovery”.

The Head of State emphasized that the articulation of OPEC and its allies was what guaranteed the sustained financial stability of world oil prices since 2016 to the present, before the arrival of the Coronavirus pandemic.

During the March, the price of hydrocarbon fell in one day from 59 to 33 dollars a barrel, something that had not been seen since 1991 and Venezuelan oil from 49 to 24 detailed by President Maduro, during an address he did on March 12 from the Miraflores Palace.

On the other hand, the Dignitary thanked Russia for its collaboration with Venezuela during the containment of Covid-19, “we have established an air bridge with Russia and help will continue to come from that country in the coming days”, he said, stressing that the ambassador of the Eurasian nation, Sergey Melik-Bagdasarov, transmitted a message from President Vladimir Putin that confirms all his support for the people of Venezuela and its government.

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